Robert Bosch Venture Capital invests in Allegro.AI
Pioneering deep learning computer vision platform for Artificial Intelligence lifecycle management
- After leading the seed round Robert Bosch Venture Capital invests additional funds in round A
- Allegro.AI is emerging from stealth to revolutionize Artificial Intelligence (AI) lifecycle management
- Dr. Ramesohl: ”Best-in-class tools to create production grade AI-based solutions.”
Stuttgart, Germany – Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company of the Bosch group, invests additional funds in Allegro.AI, an Israel start-up based in Ramat-Gan. Allegro offers the first end-to-end artificial intelligence (AI) lifecycle management solution, with a focus on deep learning applied to computer vision. The recent investment round brings the total investment in the company to USD11m from RBVC, Mizmaa Ventures, Samsung Catalyst Fund, Dynamic Loop Capital and JumpGate Ventures.
Allegro helps to bridge the gap between lab and field in deep learning, as well as the debilitating shortage in highly trained data scientists, both of which are inhibiting the introduction of next generation computer-vision based products. Allegro’s technology enables for the first time to implement continuous learning-computer vision processing in real-life situations on edge devices, for example in self driving cars or security cameras. Allegro also provides automation tools for data scientists‘ time-consuming tasks. This removes operational roadblocks and enables teams to focus on creativity and innovation.
“One key challenge in deep learning based solutions available in the market today, is that “learning” stops when products – for example security cameras or autonomous vehicles - are deployed to the field, “ says Dr. Ingo Ramesohl, Managing Director of RBVC. “Providing deep learning solutions for computer. vision that function in real-world scenarios is an industry wide challenge, and of strategic importance to Bosch.”
Automotive, security and industrial applications
Founded in 2016, Allegro’s platform simplifies the process of developing and managing AI-powered solutions. Leading global companies – among other customers – are using Allegro to bypass the manual and time-consuming exercise of building their own datasets and models to provide AI-powered products, while keeping complete and confidential control of their data. Organizations benefit from an underlying platform that expedites product development, automatically annotates images and videos, enables continuous learning of models, and quickly scales the entire AI product lifecycle.
Extension of RBVC portfolio in Israel
“The investment in Allegro extends the RBVC investment portfolio in Israel including companies, such as, Iguazio, Unispectral, CropX, Cheetah Medical, and Utilight.” said Ayelet Edrey, Investment Professional at RBVC and board member in Allegro. The company will use the funding for continued development of its deep learning computer vision platform, customer rollout of its solution, and talent acquisition.
Allegro.AI is a deep learning computer vision platform, which provides a complete product lifecycle management solution for AI development & production, starting with computer vision. Founded by seasoned veterans leading a team with extensive expertise in computer vision, deep learning, embedded and high performance computing, Allegro’s investors include Robert Bosch Venture Capital GmbH, MizMaa Ventures, Samsung Catalyst Fund and Dynamic Loop Capital. For more information, visit www.allegro.ai.
About RBVC GmbH
Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. RBVC invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and future relevance for Bosch, above all, automation and electrification, energy efficiency, enabling technologies, and healthcare systems. RBVC also invests in services and business models that are relevant to the above-mentioned areas of business.
Contact person for press inquiries